Chainlink Price Analysis: LINK Finally Breaks Past $20 Psychological Level

Daily Chainlink LINK Price Forecast

Last Updated August 2nd 2021
1 Min Read
  • Chainlink price has four straight bullish sessions.
  • MACD shows increasing bullish market momentum.

Buyers have taken control of the Chainlink price for four straight days, wherein it jumped from $19 to $23 – finally crossing the $20 psychological level. Before this, LINK had dropped from $20 to $13.70 between July 7 and July 20. This drop has flipped the 20-day SMA from resistance to support and reversed the MACD from positive to negative.

Chainlink Price Aims For $25 Resistance

The Chainlink price jumped from $13.75 to $23 since July 21. During this jump, LINK managed to:

  • Flip the 20-day and 50-day SMAs from resistance to support.
  • Reverse the MACD from bearish to bullish.

Interestingly, despite flashing a sell signal on Friday with a green-nine candlestick in the TD sequential detector, but LINK buyers continue to be in control.

Image: LINK/USD daily

LINK/USD daily chart 080221

As per IntoTheBlock’s IOMAP, the Litecoin price has a strong resistance barrier at $25. Previously, at this level 7,300 addresses had purchased almost 31.5 million LINK tokens at this line.

Image: IntoTheBlock

LINK/USD volume chart 080221

Chainlink Price Is Expected To Reach These Levels

If the Chainlink price conquers the $25 resistance it should reach the 200-day SMA ($28).

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.